‘It will provide such an amazing boost to the local economy, to skills, to aspiration in the city and is really going to help with this effect we’re trying to have on the maritime sector in Portsmouth.

‘The city can be very proud. I think with the events at the tail end of last year the city’s pride was hit but there can be no doubt today we are the maritime heart of the UK.

‘Sir Ben is coming to Portsmouth because of our heritage, skills and enthusiasm and our maritime legacy.

‘This public money and the prime minister’s backing is very welcome so it’s great news for Portsmouth and for the whole Solent area.’

Businesses in Gosport to benefit from Ben Ainslie’s Portsmouth base

Businesses in Gosport will benefit from Sir Ben Ainslie’s decision to base his America’s Cup team in Portsmouth, according to the town’s MP.

Caroline Dinenage joined Sir Ben, Portsmouth North MP Penny Mordaunt, minister for Portsmouth Michael Fallon and the prime minister at Downing Street today for the announcement that Sir Ben’s project will receive £7.5m of government funding.

It paves the way for the base to be built in Portsmouth, with the creation of around 90 jobs to begin with.

Ms Dinenage said: ‘It’s fantastic news for our whole region.

‘We like to brand ourselves as a world class hub for sailing industries and this is just a huge boost for that.

‘We really now can claim to be one of the top places in the world and certainly in the UK For the maritime and marine scene

‘It’s great for jobs and all those companies doing such expert and marvellous work in the industry.

‘It’s a huge financial boost for our region and one that is very much needed.’